What 2020 Was Like for People in the Retail Industry – The New York Times:
In New York City, retail jobs make up 9 percent of private-sector employment, and many have been slow to return. At stores selling clothing and clothing accessories, employment is down more than 40 percent from a year ago, according to a recent report by the state comptroller’s office.
The auto industry — already fretting lengthy factory shutdowns and depressed new-vehicle demand — is starting to sound the alarm about a potential used-car price collapse that could have far-reaching consequences for manufacturers, lenders and rental companies.
— Read on www.bloomberg.com/news/articles/2020-04-13/fear-of-an-impending-car-price-collapse-grips-the-auto-industry
*How will consumers react? Huge incentives on manufacturers to move more new cars? If the values and prices for gently used cars drop people may feel better buying used rather than new. Many new people without regular income will lead to uncertainty and caution in household expenditures, especially large purchases like automobiles. Home price may also see a reset which could be rather significant. The home price reset may take time to become apparent. Look for a lengthening of days-on-market.